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Poseidon gas pipeline between Greece and Italy exempt from third party access, subject to conditions

The European Commission has approved, subject to conditions, the exemption of the "Poseidon pipeline" from the third party access rules. This new gas pipeline will connect Greece and Italy, and is currently under construction by Edison of Italy and DEPA of Greece. The exemption from the obligation to provide access to the pipeline to parties not involved in the investment project for a limited period of time should allow the investing companies to recover their costs. If the Commission’s conditions are respected, it is expected that the project will promote more effective competition on the Italian gas market.